Realtors from Surat, Vyara and DNH declare Rs 17 crore under IDS

The Income Tax department’s ‘’all out efforts’ to attract potential declarants under the domestic black money window by assuring them of confidential and hassle-free disclosures seems to have been successful.Melvyn Reggie Thomas | TNN | August 02, 2016, 08:07 IST

SURAT : Around seven realtors from Surat, Vyara and Union Territory of Dadra and Nagar Haveli (DNH) have declared Rs 17 crore worth of black money under the Income Declaration Scheme-2016.

The Income Tax department’s ‘’all out efforts’ to attract potential declarants under the domestic black money window by assuring them of confidential and hassle-free disclosures seems to have been successful.

In the last few days, around seven real estate developers from Surat, Vyara and the union territory of Dadra and Nagar Haveli have voluntarily disclosed Rs 17 crore worth of unaccounted income under the Income Declaration Scheme-2016.

Official sources said that three realtors operating in the city’s City Light, Katargam and Pal declared a total of Rs 7 crore of undisclosed income under the IDS scheme. However, two builders in Union Territory of DNH declared Rs 2 crore, while the rest from Vyara and Surat declared Rs 8 crore in the last few days.

In order to give wide publicity, the CBDT had recently organized an awareness programme in the city last month to attract potential declarants, like textile industrialist, realtors, diamantaires, showrooms of high end products.